Financial Performance - Revenue for the year ended June 30, 2024, was HK$152,279,000, an increase of 18.3% from HK$128,737,000 in 2023[2] - Adjusted profit for 2024 was HK$5,724,000, down 41.5% from HK$9,694,000 in 2023[2] - Attributable profit for 2024 was HK$5,724,000, consistent with the adjusted profit figure[2] - Earnings per share decreased to 2.18 HK cents in 2024 from 3.72 HK cents in 2023, representing a decline of 41.3%[2] - The Group reported total revenue of approximately HK$152 million for the fiscal year ended 30 June 2024, representing an increase of approximately 17.8% compared to HK$129 million in the previous fiscal year[17] - The profit attributable to the owners of the Group for the fiscal year ended 30 June 2024 was approximately HK$5.7 million, a decrease from approximately HK$9.7 million in the prior period[19] - Distribution costs for the fiscal year ending 30 June 2024 were approximately HK$27.5 million, a slight increase from HK$26.7 million in the previous period[19] - General and administrative expenses totaled approximately HK$54.4 million, representing a 12.6% increase from HK$48.3 million in the previous period[19] Cash and Assets - Cash and cash equivalents as of June 30, 2024, were HK$109,308,000, up from HK$100,760,000 in 2023[2] - Total assets increased to HK$242,416,000 in 2024 from HK$223,951,000 in 2023, reflecting a growth of 8.3%[2] Strategic Initiatives - The company plans to integrate artificial intelligence capabilities into its critical messaging systems to enhance efficiency and effectiveness[10] - The rollout of the Multitone Nucleus™ platform is scheduled for 2025, with a transition to an agile software development model[12] - The company aims to expand its market share in public safety, healthcare, and transportation sectors, emphasizing the importance of timely information exchange[9] - Future developments will include features for clinical collaboration and critical message delivery via the new Multitone Evolve™ messaging device[11] Investment and Market Performance - The Group's revenue growth is attributed to the resolution of supply chain issues and successful fulfillment of emergency services orders in the UK[17] - The Group's investment portfolio included listed equity investments in Hong Kong valued at approximately HK$0.4 million as of 30 June 2024[21] - The Group's investment in STAR CM Holdings recorded an accumulated unrealized loss of approximately HK$2.3 million[23] - STAR CM Holdings reported revenue of approximately RMB426.6 million for the year ended December 31, 2023, down from RMB873.4 million in 2022, indicating a decline of approximately 51.2%[23] Operational Developments - Multitone's i-Message® platform enhancements positively impacted sales in the UK public sector healthcare market[24] - EkoTek product line secured additional orders in the UK mental healthcare sector, with a new impact-resistant product (IK10 rating) expected in the next reporting period[24] - The MaBLE wander alarm wristband solution for elderly care was launched in the EU market, with successful installation in Germany[24] Economic and Market Conditions - A general economic slowdown has led to reduced consumer spending on non-essential items, particularly artifacts and collectibles[24] - The fiscal policies implemented to mitigate inflation are beginning to alleviate pressure on global economies, with signs of recovery observed across most economies[29] - Energy prices have stabilized, and component costs have shown a noticeable decline toward the end of the reporting period[29] Corporate Governance - The Company is committed to compliance with applicable laws and regulations, ensuring adherence to those that significantly impact the Group[56] - The Group emphasizes environmental protection and energy conservation, leading to significant achievements in environmental management[55] - The Company has a share option scheme, but no options have been granted since its adoption[79] - The Company has adopted an Anti-Corruption Policy on December 29, 2022, to prevent and address fraud and corruption[147] Risk Management - The Board has established and maintained effective risk management and internal control systems, reviewing their effectiveness annually[171] - The risk management framework is integrated into strategy development, business planning, and daily operations, with risks identified and ranked based on likelihood and consequence[177] - The internal control system is based on the COSO framework, which includes five components: Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring[177] Shareholder Engagement - The Company encourages all shareholders to attend general meetings or appoint proxies to vote on their behalf[127] - The Company communicates with shareholders through annual and interim reports, with prompt responses to inquiries from shareholders and investors[166] - The Company ensures that the rights of shareholders and voting procedures are clearly explained during general meetings[166] Human Resources - Staff costs for the year ended June 30, 2024, were approximately HK$79 million, an increase from approximately HK$73 million in 2023[99] - As of June 30, 2024, the Group employed about 164 full-time and part-time staff globally[99] - The Company provides on-the-job training and development opportunities to enhance employees' career progression and values their health and well-being[58] Board Composition and Responsibilities - The Board consists of a balanced composition, with independent non-executive Directors exceeding one-third of the total[119] - The Board believes that the current ratio of executive, non-executive, and independent non-executive Directors is reasonable for checks and balances in decision-making[119] - The Board is collectively responsible for the leadership and control of the company, overseeing strategic decisions and performance[116]
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